Activity 6 - Vodafone ROCE answer
| ROCE For Vodafone | |||
|---|---|---|---|
| 31 March 2002 |
Profit for the year
Equity shareholders' funds |
-16,155
130,573 |
= -12.37% |
| 31 March 2001 |
Profit for the year
Equity shareholders' funds |
-9,885
145,007 |
= -6.82% |
Notice Vodafone's ROCE for both years is negative. This is not good. More than that, Vodafone's capital employed didn't grow between the two years; in fact, it shrank. Something else has gone wrong with Vodafone - maybe we will discover their problems as we work through the rest of these ratios.
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